Up and Down Wall Street

Suddenly, Everyone Is Not Bearish

Was there ever a better sign that the market is about to provide an unpleasant surprise?

IF NOTHING ELSE, WE FIND the results of last week's primaries especially gratifying in that—thanks, fittingly, we guess, to the Tea Party—the cocksure pundits of both parties, who pride themselves on their infallible ability to read the political tea leaves, were made to look a little silly.

To be fair, it wasn't as if they missed a landslide, which they have shown themselves more than capable of doing in the past. And, we can't blame them too much in prophesying that voters would be reluctant to flock to a candidate for...